If households pay $1,000 in interest payments and receive $1,200 in interest, wages equal $8,000, rental receipts on land are $200, total business profits before taxes are $2,200, depreciation is $1,750, and indirect business taxes are $1,000, then gross domestic income is
A. $13,150.
B. $15,350.
C. $13,350.
D. $11,400.
Answer: C
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The demand and supply of a product is given in the above table. A unit tax of $2 is imposed on the product. The equilibrium quantity for this product after the tax is imposed is equal to
A) 30 units. B) 25 units. C) 20 units. D) 15 units.
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When a country imposes tariffs, it is likely to cause
A. Lower prices for domestic production. B. Increased quantities of imports. C. Higher prices for the import-competing goods both domestically and abroad. D. Less expensive exports.